summary
Introduced
02/10/2025
02/10/2025
In Committee
05/01/2025
05/01/2025
Crossed Over
05/01/2025
05/01/2025
Passed
Dead
Introduced Session
2025-2026 Session
Bill Summary
AN ACT TO AUTHORIZE THE STATE TREASURER TO INVEST IN QUALIFYING DIGITAL ASSETS, EXAMINE THE FEASIBILITY TO ALLOW MEMBERS OF THE STATE RETIREMENT INCOME PLAN AND MEMBERS OF THE 457(B) DEFERRED COMPENSATION PLAN TO INVEST IN DIGITAL ASSETS, AND STUDY A STATE RESERVE TO HOLD SEIZED OR FORFEITED DIGITAL ASSETS.
AI Summary
This bill authorizes the State Treasurer to invest in digital assets (which are defined as virtual currencies, cryptocurrencies, tokens, and other digital assets with economic value) under specific conditions. For designated state funds, digital asset investments are limited to 5% of the fund's balance and must meet strict requirements, including maintaining assets with a secure custody solution and passing an independent third-party assessment of investment appropriateness and risk management. The bill also requires the Treasurer to study the feasibility of allowing state employees participating in the Supplemental Retirement Income Plan and 457(b) Deferred Compensation Plan to invest in digital assets through exchange-traded products, with potential rules around investment vehicles, contribution limits, and educational materials about digital asset risks. Additionally, the State Bureau of Investigation will conduct a study on establishing a North Carolina Digital Asset Reserve to manage seized or forfeited digital assets, examining potential administration methods, asset retention strategies, and processes for maximizing revenue from these assets. The bill includes provisions for potential future modifications and takes effect immediately upon becoming law.
Committee Categories
Business and Industry, Government Affairs, Labor and Employment
Sponsors (27)
Mark Brody (R)*,
Destin Hall (R)*,
Stephen Ross (R)*,
Mike Schietzelt (R)*,
Jonathan Almond (R),
Brian Biggs (R),
Celeste Cairns (R),
Grant Campbell (R),
Richard Carver (R),
Brian Echevarria (R),
Kyle Hall (R),
Kelly Hastings (R),
Neal Jackson (R),
Keith Kidwell (R),
Donnie Loftis (R),
Jarrod Lowery (R),
Jeff McNeely (R),
Ben Moss (R),
Ray Pickett (R),
Reece Pyrtle (R),
Tim Reeder (R),
Heather Rhyne (R),
Dennis Riddell (R),
Phil Shepard (R),
Bill Ward (R),
Harry Warren (R),
Matthew Winslow (R),
Last Action
Ref To Com On Rules and Operations of the Senate (on 05/01/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ncleg.gov/BillLookUp/2025/H92 |
| Analysis - Summary H92-SMBB-47(e3)-v-2 | https://dashboard.ncleg.gov/api/Services/BillSummary/2025/H92-SMBB-47(e3)-v-2 |
| Analysis - Summary H92-SMBB-38(CSBB-11)-v-4 | https://dashboard.ncleg.gov/api/Services/BillSummary/2025/H92-SMBB-38(CSBB-11)-v-4 |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H92v3.pdf |
| Analysis - Summary H92-SMBB-4(e1)-v-4 | https://dashboard.ncleg.gov/api/Services/BillSummary/2025/H92-SMBB-4(e1)-v-4 |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H92v2.pdf |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H92v1.pdf |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H92v0.pdf |
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